I’m just looking for an answer on this story off of Drudge about mortgage fraud arrests.
Here’s the title and first paragraph.
Hundreds swept up in mortgage fraud arrests
WASHINGTON – More than 400 real estate industry players have been indicted since March — including dozens over the last two days — in a Justice Department crackdown on incidents of mortgage fraud nationwide that have contributed to the country’s housing crisis.
But then later, you get this:
The most common type of mortgage fraud was misstatement of income or assets, followed by forged documents, inflated appraisals and misrepresentation of a buyer’s intent to occupy a property as a primary residence.
Do mortgage people go to jail if the potential homeowner misrepresents him/herself??